A bank charges you an APR of 8% on its loan, but compounds interest monthly. What is the effective annual rate on this loan?

Group of answer choices

8.16%

8.30%

8.24%

8.33%

2.

Suppose your investment grows from a value of $8,000 to a value of $12,000 over a 5-year period. What rate of return did you make on your investment?

Group of answer choices

5.96%

10.67%

6.99%

8.45%

3.

What is the value today of a $100,000 payout to be received at the end of 10 years if the required rate of return is 6% for years 1 through 6, and 8% for the years 7 through 10?

Group of answer choices

$46,319.35

$55,839.48

$49,915.34

$51,816.70

4.

An investment is expected to pay out the following cash flows at the end of years 1 through 5, respectively: $4.00; $4.25; $4.50; $4.75; and $55.00. What should be the value of this investment today if the required rate on this investment is 7.5%?

Group of answer choices

$51.84

$52.89

$53.96

$48.45